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JACKSONVILLE, Fla. — Bi-Lo Holdings LLC has received Federal Trade Commission approval for the acquisition of three southeastern supermarket banners from Delhaize Group — but it will have to divest 12 stores in Florida, Georgia and South Carolina.
Bi-Lo Holdings LLC has received Federal Trade Commission approval for the acquisition of three southeastern supermarket banners from Delhaize Group — but it will have to divest 12 stores in Florida, Georgia and South Carolina.
The agreement called for Bi-Lo to pay $265 million for 155 stores operating under the banners of Sweetbay (72 stores), Harveys (72 stores) and Reid’s (11 stores). Bi-Lo has acquired the leases for 10 prior Sweetbay locations, but Delhaize has kept the distribution center that serviced the Sweetbay stores. Aside from the divestitures, which should be completed before May 31, Delhaize will retain two stores and convert them to the Food Lion banner.
"Given the number of stores we are acquiring, we anticipated that we may be asked by the FTC to divest some stores to close the deal," said R. Randall Onstead, Bi-Lo’s president and chief executive officer. The order is subject to final FTC approval after a 30-day comment period.
